On November 1, 2019, Dexter Company sold inventory to a company in England. Payment will...
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Accounting
On November 1, 2019, Dexter Company sold inventory to a company in England. Payment will be made in 300,000 British pounds and will be received on February 1, 2020.
Direct Exchange rates:
November 1, 2019 $1.51 December 31, 2019 $1.57
February 1, 2020 $1.52
Dexter has a December 3 1 st year end. Prepare the necessary journal entries for this export transaction
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